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. >> thank you for your time. >> what will the president tell the country on monday about debt and deficit spending and how we get that under control, ben? >> well, i think that the president will follow precedent when it comes to the inaugural address and lay out a broader vision for are where we take the country in the next four years and to talk about how some of our founding principles and values can drive us through the challenges we continue to face. i think the state of the union address will be more of the agenda, more discussion of how we get it done with congress and enlisting the is support of the american public. >> so nothing on monday about spending then? >> well, i can't specifically say that the remarks aren't totally finalized yet. i think what you will see is the broader vision. the specific agenda will come in the days ahead. there was a statement out of the white house on friday addressing the proposal that the republicans have put on the table right now. it looks like they may be breaking the ice a little bit and not holding the nation's full faith and credit hostage f
are treated like anyone else under the law. >> debt and deficit front and center he offered a vigorous defense of entitlement programs. >> we must make the hard choices to reduce the cost of healthcare and size of the deficit. we reject that they must choose between caring that built the country. >> like every president since fdr, mr. obama started his day early, with a prayer service at st. john's church. before departing the white house for the longest motorcades known to man for the rise to the capital. a star-studded affair. where else do you see paul ryan mingling with jay-z and beyonce who belted out the national anthem. >> the ceremony was over there was a stream of pomp and circumstance waiting. >> from signing papers to officially nominate the new cabinet to lunch with congressional leaders. then, of course, the parade. the first family could make the way back to the white house in that grand bulletproof review stand. yet all of that could wait because leaving the west front of the capitol, the president went off script to take in the vista of the national mall. mr. obama seemed to be
option. this is the congressman. >> the public option would decrease the deficit 104 billion over 10 years . >> and not everyone agrees that government health insurance would save money. republican critics say it is too costly and could bankrupt the country so who is right. >> i am dave asbin. welcome to forbes on fox. it is elizabeth mcdonald and rick unger and morgan bren an . we just can't afford a full-blown national health care system. >> no, we can't. every country that tried the health care system experienced higher cost or less health care. with obama care, it is a back door in a single payer system. of course, it costs more. >> mark tage. this is what he has plan obama care is not a single payer plan which is national health care. is that what it is turning into? >> i think it is going to have to be a single payer plan. will this reduce the deficit, no. is your goal here to provide health care to people? >> the private sector has not done a good job of >> it is going two or three times the rate of inflation . >> but you are saying that a government take over of health care w
and debt payments from lower deficits, as a spending cut. that's a dubious claim. number three, obama is counting a nearly 1 trillion dollar savings from more money than nobody expected to be spent anyway, now that the war in iraq is over and the afghanistan war is winding down. so, obama's entire premise that we need a balanced approach to cutting the deficit is based on a huge fiction which is that obama's plan will cut 4 trillion during the the next decade. it will do no such thing. he's basing on a falsity, just like day one when he's been in office, distort and pr propgandize. now, republicans need to understand all of this dealing with obama. they're dealing with a man who is reckless, ruthless as any president they will ever encounter and my next guest says he has a plan that mr. bolster the republicans hand when it comes to dealing with the democrats on the issue of debt and much more. ohio senator rob portman is here. and what do you make of obama, only 2006 a vote against the debt ceiling. >> it went further than that. he said it would be unpatriotic. >> sean: that's another
isn't a very good one for them. working on deficit and spending budget is better for them. >> reporter: what do democrats say about passing a budget today. >> reporter: chuck schumer said the senate would pass a budget this year. the battle will be over spending cuts and what is included in that very budget. yesterday with the top congress alleaders at his inaugural luncheon president obama called for working together. >> i recognize that democracy is not always easy, and i recognize there are profound differences in this room, but i just want to say thank you for your service, and i want to thank your families for their service, because regardless of our political persuasions and perspectives, i know that all of us serve because we believe that we can make america for future generations. >> reporter: first challenge will be that debt ceiling vote tomorrow the first of many fiscal issues to be tackled in this new term. >> reporter: let the games begin. mike emanuel, thank you very much. what is the likelihood of a senate budget resolution. coming up minutes from now we'll speak to one
comprehensive immigration reform and pursuing the deficit in a balanced way and hear more in the state of the union address and many of the campaign are organizing and they are passing that initiative. >> he will make good on cutting the nation's debt in half? >> absolute he. he put forward a plan to reduce the deficit by four trillion in a balanced way and that is it a top priority and as he enters the year with this congress and i expect you will hear more ahead . >> the president has tough challenges. the gun debate and debt ceil job creation . will we see a different leadership style in his second term? >> i think one thing that is clear this time around, the american people voted to reduce the deficit in a balanced way. they voted to pass the comprehensive immigration reform . 90 percent of the american public supports universal background checks and one of the things that campaign supporters will make sure, he has a man date every time to enact the changes and the house republicans are responsive to what the american people voted for and public opinion is . you will see a lot of
together to strengthen the middle class, to shrink the deficit and fight for equal pay for men and women and help sure the safety our children, reform immigration law and establish equal rights for gay americans. he devoted several sentences to the battle against climate change which is notable considering some of the critics barely took on the issue the first term. the facts back that up. the president called for our divided congress to act. >> for now, decisions are upon us. we cannot afford delay. we cannot mistake absolutism for principle or substitute spectacle for politics or treat name-calling as reasoned debate. we must act. we must act, knowing our work will be imperfect. >>shepard: he defended the social welfare programs including medicare, medicaid, and social security. now we turn to ed henry live in lafayette park. the president drew inspiration from abraham lincoln and dr. martin luther king jr. in the speech. >>reporter: no doubt. it is no secret this is the first african-american secret and he happens to be sworn in on the same day we celebrate martin luther king jr. day.
choices to reduce the cost of healthcare and the size of our deficit. we reject that america must choose between caring for the generation who built this country andng in the generation who will build its future. >> president obama's speech was very short on specifics. again, speaking about america's problems in general terms. >> now, more than ever, we must do these things together. as one nation and one people. >> tonight, the factor will analyze inauguration day with brit hume, bob woodward. john meacham, bernie goldberg, juan williams and mary katharine ham. caution, you where to enter the no spin zone. the factor begins right now. hi i'm bill o'reilly. thanks for watching us tonight. inauguration address number 57. that is the subject of this evening's talking points memo. first inaugural address given on april 30th, 1879 by george washington. not to the folks. washington spoke directly to congress. he appealed to the new leaders to be moral and just and he invoked god and heaven saying, quote: smiles of heaven can never be expected on a nation that disregards the eternal rules of
there would be a method. explain. >> well, actually, the public option would decrease the deficit by about $104 billion over ten years. >> how too you know that? >> that's the congressional budget office estimate. of what it would do. this is not numbers i made up. because it would inn fact lower the -- provide an option -- this would be completely by choice -- for people who don't want to pick this public option, among the private sector choices within a health exchange, and rates for premiums are estimated to be about 5 to 7% lower, meaning those people in the exchange that needed a subsidy would take fewer tax dollars and it is also estimated that it would serve as an anchor, because there's competition, to bring down the cost of health care, even in the private sector as well. >> when is the government -- when is the government ever done that? with george bush's plan, you were critical and had a right to be for prescription drug benefit. the argument ises that it would drive down the cost of those drugs. if anything they have soared since that benefit came in because the government can
economic problems here. there was a $10 billion budget deficit that was much more than expected. that has become a big issue. the rising cost of living here has become a big issue and that's the thought that this precipitous drop, it was that he and his right-wing coalition hash 70 seats projected 2 months ago. they have fallen in the polls and there is now talk of them bringing on board a center party, run by a charismatic television anchor, turped politician. this person is demanding tax cuts for the middle scplases demand that the religious go to war, something that won't sit well with mr. netanyahu's base. going forward, he may have won, but it will be a very uncomfortable and probably tense couple of weeks to figure out which one of his friends he will put together to get to the crucial 61 number. >> neil: completing our trifecta of big stories today, i want to bring your attention to the stock market, up despite an ominous warning from bill gross, pacific income management, owns more treasuries, notes and bonds, save the u.s. government than anyone and warn that this government comi
into the deficit and pay off the debt. >> you know what i didn't like today. i thought it was annoying, he may have to slow down social security payments if-- and tell you why, there's never any suggestion maybe congress shouldn't be paid salaries, the senate not be paid salaries, the president not be paid salaries, cut down on air force one. your constituent payment to go home on commercial aircraft, instead stay here and save money on travel and get the job done. there's any discussion of the politicians to take the hit it's the social security recipients. >> he wants to use the military paycheck to try to scare people and hurt the elderly. you don't have to do that, there's revenue to the treasury on a daily basis. the problem is we deficit spend about 3 to 4 billion dollars a day. we collect, we spend about 10 billion a day and that means that we deficit. we have to borrow 3 to 4 billion dollars a day. we spend more than 700 million dollars a day in interest on a national debt. there are lots of things to do. the president has lots of discretion to curb back that spending to make sure that soci
. and president obama used to hate the debt ceilings. it's time to build something that controls the deficit properly and not arbitrary. >> brenda: toby, doesn't this basically give a blank check to washington saying we don't need a limit. at least when we have a limit we're forced to look at that number and realize how much we're borrowing. >> if that logic were true, they wouldn't have passed any of the spending stuff. first off, two countries in the world, united states and sweden who have a debt ceiling. people got rid of it, because what jonas is saying, it's political. and the second issue is, i don't want our economy held hostage and run by washington, right now, the buffoons in congress have more power over the economy with the, you know, stupid idea. if we give them this type of power we've hurt ourselves, kick the power away as far as i'm concerned. >> isn't this a dangerous way to enforce fiscal discipline? shouldn't we be doing it because we have a budget and stick with it like most americans have to? >> well, we do have a budget, but the budgets aren't being passed. they're not
heights communications. kristi, to you first. candidate obama in 2008 promised to cut the deficit in half by the end of his first term. that hasn't happened. how about by the end of his second? >> well, john, i think what's important to remember is that as president obama is starting his second term, he's doing so in a remarkably strong position with high approval ratings and a great record in his first term. when he started, as we all know, the economy was in the ditch. he was able to successfully get us out of that at the point where last week the u.s. stocks closed at their highest level in five years and was able to pass historic health care legislation. by contrast, republicans have their ratings in the toilet. what that means is that there's probably -- it's going to bode well for their ability to compromise with him and for the president to get a second term agenda passed. >> chris, i suppose you see it somewhat differently. >> she addressed political positioning and i think that's what the second term will be about, political positioning rather than solving problems. i don't know
the deficit will get smaller. >> when it comes to the deficit in spending 83 percent were told they believe government spending is out of control that's up from 78 percent back in february 2010 and the next economic debate is whether to raise that debt ceiling. 69 percent of you said it should only be raised after major cuts are made where 23 percent say it would be reckless not to. it is coming up. >>> powerful wind gusts tearing through the midwest knocking down this frtree and causing ito fall into the house in ohio. luckily the people inside the home were in the basement so they were not injured. >>> with the stong winds comes a a -- strong winds comes a bitter cold snap. for more let's go to maria molina. >> we are not looking at cold temperatures across the areas of the midwest but also in the oifrt ea northeast. we didn't get this cold in places like the northeast. take a look at portions of the midwest. 6 below zero the current temperature in minneapolis. that is not the windchill. it feels even colder and some places will be looking at windchill temperatures more than 20 degrees be
budget laid out a plan how to deal with america's biggest problems, our debt, deficit and ongoing spending. if we don't reform we'll end up bankrupting this country and it is unfair to the next generation not to stop this. it is time for the senate to step up and act. bill: republicans referencing the speech from yesterday with one reference to the deficit. if no debt limit is reached, however, the government could default on its obligations within weeks so watch that story. martha: well, this is an interesting one. pro golfer, phil mickelson, doing a little bit of backpedaling today saying he regrets the public comments he made on the issue of his taxes in california. mickelson said he may move out when he made the original comments, of the state, because all taxes combined end up to more than 60% tax rate. now he is telling fox news contributor jim gray, quote, finances and taxes are a personal matter and i should not have made a opinions of, on them public. i apologize to those who i have upset or insulted and i assure you i intend not to let it happen again. why would he feel
and dignity. we must make the hard choices to reduce the cost of health care and the size of our deficit area but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [cheers] [applause] we remember the lessons of our past. twilight years were spent in poverty and parents of a child with a disability have nowhere to turn. we do not believe that in this country that freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us, at any time, they may face a job loss or sudden illness or a home swept away in a terrible storm. the commitments we make to each other through medicare and medicaid and social security, these things strengthen us. [cheers] [applause] they do not make us a nation of takers. they free us to take the risks that make this country great. [cheers] [applause] we, the people, still believe that our obligations as americans are not just to ourselves, but to all prosperity we will respond to the
approach to cutting the deficit and huge fiction which in a plan will cut $4 trilin in the next decade, it will do no such thing. he is basing his argument on a falsehood which is what he's done is lie, distort. and what this showed us is that obama in the second term is going to be worse than obama in the first term. what we saw in one hour was the worst of our president on display. and republicans, they need to understand all of this dealing with obama. a man reckless, ruthless, and any president they will ever encounter. my next guess says he has a plan that will bolster the republicans plan. ohio senator is with us, how are you? >> great. >> sean: first, what do you make obama? only 2006 vote against the debt ceiling. now? >> he said would it be unpatriotic to vote to. >> sean: that is another thing. very that clip. do you want to see it? >> sure, it will be fun. >> sean: let's show the videotape. >> the problem is the way bush has done it over eight years is to take out a credit card from bank of china in the name of our children, driving up our national debt from $5 trillion for
to deficit reduction, what else is on his second term to-do list. and is compromise or confrontation the real goal? plus the suicide of an internet activist finds his family crying foul. was aaron schwartz a victim of government intimidation and a run away prosecutor. >> while there's no law or set of laws that can prevent every sinceless act of violence completely, no piece of legislation that will prevent he every tragedy, every act of evil, if there's even one thing we can do to reduce this violence, if there's even one life that can be saved, then we've got an obligation to try it. >> paul: welcome to the journal editorial report, i'm paul gigot, that was president obama rolling out the plan to curb gun violence and the president outlined 23 executive actions, including more steps to make more federal data available from background checks and increased access to mental health services and he called on congress to reinstate the federal assault weapons ban and prohibit high capacity gun magazines that can hold more than ten rounds. so, what's likely to get passed and what difference will it
to get the deficit down. we're going to do a budget this year and it will have revenues in it and our republican colleagues better get used to that fact. martha: promise, promises right? they will do a budget this year. we haven't seen one in how long? stuart varney the anchor of "varney & company". how many years has it been now? >> i believe it is 3 1/2 years. we go through the tax debate. we thought we got higher taxes on the rich and it was over, not so. senator schumer and fellow democrats are proposing yet higher taxes on the rich, more taxes on oil and gas companies and taxes on profits that american corporations makeover seas. so that is three big areas where taxes are going to go up. all of this we are told is going to be in the new budget which the senate has to pass in about a three-month period. so, here they come, higher taxes. martha: yeah. i mean, stuart, as you point out the argument that is being waged now about really tax rerecall follow was something that conservatives offered the first time around as a good way to sort of change the system and bring in more revenue
term deficit reduction plan." you will recall that standard & poor's did downgrade the u.s. debt last august after the debt ceiling was raised amidst 11th hour suspense. it was blamed on bringmanship to use the debt creeling to get spending cuts. s&p did cite the melodrama as part of the reason but placed emphasis on the view that the debt ceiling deal fall short in what our view would be necessary to stabilize the government median term debt dynamics. translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exa
relief insurance fund. okay? we know that that has been operating at a deficit. it's still in the red right now. this is going to prolong the agony. if we don't fix the core spending problem, we are not going to have money for another disaster. >> neil: i suspect they won't. they have taken some of the fat out. but i am talking in terms of million, not billions. >> million, not billions. >> neil: by the end of tonight, they will have gotten the sandy package out. you fear it's a continuing precedent for spending bad money after good. >> it's the nature of the device they are using to do t. emergency spending and including in emergency spending line-item spending -- want the way it's supposed to be done. we know the government takes in "x" number of dollars and it's lg willing to borrow "x" number of dollars, for the ceiling. for every $6 of $steb, it's borrowed money! we are spending less than we are taking in in revenue. at this point, that comes home to haunt you. i am saying the victims didn't nide the money, we don't need to spend $16 billion on things that don't have to do with v
to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our children's future and we balance our budget. we can do that. i think most americans will agree. >> neil: you got to wonder, if the mainstream media that republicans are being obstructionists if they dare reject raising the debt ceiling but they didn't do it to a single democrat seven years ago including senator barack obama, then republicans are damned no matter what they do? >> it's part of the strategy of this administration on fiscal cliff, on all kinds of issues is to frighten people, frighten seniors. we need to reassure seniors with their truth, their social security and medicare is going to get paid unless the president is completely irresponsible. interest on our debt is going to get paid and our credit rating is likely to stay where it is if we cut spending rather than blow through another debt limit without making th
. leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl cameron reports on a possible short-term solution that is getting a long look by some people. >> with the white house refusing to negotiate spending cuts and the democrat controlled senate unlikely to pass a budget as part of a long-term deal to raise the tet ceiling, pat toomey of pennsylvania is reintroducing legislation he says will avert the u.s. from defaulting on the debt. >> we must prioritize three categories of payments. one would be debt service, interest on the debt so we would haven't default. a second would be social curt payment to seniors so they don't worry whether the check is coming or not. the third is pay for the active duty military personnel. >> the white hou
up 4 consecutive trillion-dollar federal budget deficits in his first term. he has an economy that is not being returned to prosperity. 23 million people still unemployed. we have, i think bill. i think if i may. you undersell folks just a little bit in that i think everybody is smart enough to know there is is a problem. i think everybody is pretty much smart enough to know that we have got to come up with a solution. when you have a national media part of this coalition of interest and depen dense on the democratic party, there is no way for them to have validation. there is no way for them to have an aggressive watchdog that would normally, traditionally, historically be attacking the miss adventure of those in power. >> we agree that the media is in the tank. i'm almost stunned that you think, to quote you, everybody understands the issue. i will tell you why, you go right outside the fox news channel building now and you stop people and go what about the federal debt? come on. >> let me put it in some context. there was a time in this country and everybody may be slightly
the challenges of the deficit and the debt, and also to get a budget. we haven't had had a budget in a long time. i hope he will step up to responsibilities to be a president that is inclusive rather than exclusive and focus on the word, we can do it together. >> eric: this morning, on fox sunday, it's common ground and grand themes, but look -- and compromise. his campaign organizing for america they changed that organizing for action. he will be pushing his policies. how does that square with the theme of common ground? >> i think it's a little inconsistent. president should be listening to people who won election during the last cycle. there were a lot of republicans that won pretty solid elections and now serving. i want to make sure the president is inclusive with the word we, and he has to try to find common ground with them rather than stand with home common ground. >> eric: how about dealing with the debt ceiling and mr. boehner he won't negotiate anymore? >> the president is going to have to reach across the aisle and demonstrate sincerely he will listen and work. he has to show up for
for another four more years? >> bob: they did. >> dana: one part talked about the deficit. listen to that sound and get kimberly's reaction. >> we, the people, still believe that every citizen deserves a basic measure of security and dignity. we must make the hard choices to reduce the cost of healthcare. and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the general haitian that will build this future. >> dana: kimberly, by suggesting they reject it, must mean somebody is proposing not taking care of the previous generation or the future generation. when some on the obama team say they are surprised that team sounded divisive for a lot of people. pundits but across the board, politico, et cetera. it must mean that somebody disagrees with it. i don't think that is what they were necessarily going for in this speech. >> kimberly: but that is how it came across. he is selling a clear line and it's continuing to be the shades of demonizing the right and the republicans that that is
programs at a time when everyone in washington is talking about debt and deficits, he threw down the gauntlet and made clear, i won the election, i will stand for these following things. he did not go in great detail. he does that next month. he made clear he is coming out where he is and he will come out swinging and he thinks he will get a lot done. we will see. >>neil: before i leave, much was made that the president has not walked much so far, what do you make of that? compared to last inaugural. >>reporter: he will be making that town as you say at the treasury department in a block or so from where we are right now, at lafayette park. look, they are always careful about not having the president walk too far. based on the cheers he is getting close because people here, outside the white house, they have been waiting if hours, since early this morning, 7:00 or 8:00 a.m. lining up here, so you get the idea after 4:00 p.m. eastern time, folks are cold, folks are tired, they are very excited to see the newly inaugurated president, re-elected president coming out here. as i menti
everyone in washington is talking about debt and deficits. he also gave a very rigorous defense of entitlement spending, take a listen. >> the commitments we make to each other through medicare and medicaid security, these things do not sap our initiative. they strengthen us. [ applause ] they do not make us a nation of takers. they free us to take the risks that make this country great. [ applause ] >> now, interesting as well that the white house put out a tweet about another part of the speech where he said, quote: our journey is not complete until our gay brothers and sisters are tweeted like anyone else under the law. what's significant about this it's the first time any u.s. president has used the word gay in an inaugural address. you will remember it was only a few months ago the president came out in favor of same sex marriage. that was a change for him. he now is making clear that gay rights will also be part of his second term agenda, shep. >> shepard: what are we getting in the way of reaction to this speech, ed? >> well, look, republicans are going to be a little bi
of the labor force, a big number, and none of these things said deficits, generational debt, not mentioned. it's interesting, you had some people on the left comparing the speech to the gettysburg address. which i found somewhat amusing. and you know, the references to the messiah, jesus, i can't believe how caught up the media gets in these moments. it's actually comical, but i wanted to ask you for the speech itself, i felt it was a hodgepodge of written by people that want today come up with their ask not what your country can do for you, but what you can do for your country moment and when you write a speech like that isn't it likely to fail? >> well, you have to use your own words. but what they did cribbed a lot from abraham lincoln, i saw at least three speeches in there. the nation without liberty and equality, remain half free and half slave. and that's almost word for word from the house divided. gettysburg address, we have a republic, by the people, for the people. and lincoln's famous message to congress in 1862 before the emancipation proclamation he said as we think anew as our c
fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade which would stabilize our debt and our deficit in a sustainable way for the next day-to-day. jon: so what about that statement from the president, true or false? a fact check on that and a bunch of others. we'll have the answers for you coming up. jon: right now lawmakers are working on a strategy to try to keep the government running. they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about
a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being. i'd invoke the 14th amendment, we'd problem below know that if we spent more time with the republicans wasting time on the floor of the house. i thought he ought to raise it and to hell with congress. martha: we talked to stewart varney and kirsten said in that sound byte, this isn't about default, people don't think we aren't going to pay the debt o
the debt ceiling. this is the question we posed. is reduce the federal deficit a worthy goal? this is interesting you may recall white house press secretary made news by stating that deficit reduction is, quote not a worthy goal onto itself. 77% of voters disagree with them and that includes large majorities of republicans, independents and democrats. what is your take on this? >> again i don't want to be a downer here, the question is what urgency to do they place on that. we had an election two months ago where there were two candidates, one was more focused on cutting the deficit and reducing our long term debt and one didn't think it was a big concern. the one who didn't think it was a big concern won the election. yes, voters seem to say that is an issue they agree with, but when it came to election day two months ago that certainly wasn't one of the top issues they voted on because they voted for the candidate who wasn't embody go it. >> heather: through his actions, as well. that leads to this, how f or if it should be raised? should the debt limit be raised again, 23%
. he will have to talk a lot more in the state of the union about deficit control. we have this new fox poll out tonight to. people are upset about fiscal cliff deal. when asked if their paycheck is smaller this year because of more taxfuls being taken out 60% say yes 25% say no. he is going to have to talk about more deficit reduction. they will do a will little partying this weekend they real lives it's right back to work, bill. >> word of a solution to prevent the united states from defaultingen its debt. the house majority leader eric cantor saying that lawmakers will vote next week on a short-term plan to let the government borrow more money effectively raising the debt ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's
to reduce the deficit, america cannot afford another debate with this congress about whether or not they should pay the bills they have racked up. what i will not do is to have that negotiation with gun at the head of the people. >> dana: interesting choice of words to describe that. eric, you talked about not wanting the country to lurch from crisis to crisis. most americans would agree and want washington to fix fundamental problems. why do we have to have the debate every three months? >> eric: sure. start with the debt ceiling and how it came about. prior to world war i, everybody was paid. the debt we incurred was paid for through various bonds. world war i to world war ii, fdr got together with the treasury secretary and set let's put a debt ceiling op and they started to borrow money. that amount in 1949 was $45 billion. today, $16.4 trillion. that is 46,400% higher. between 1939 and 1980, we never exceeded $1 trillion in debt. now we push $17 trillion. the problem with the sound bite is president obama was the guy in 2006 that said i will not vote for you. he wouldn't
and find common ground over the deficit we cannot afford a debate about whether or not they should pay the bills they have already racked up. congressional republicans refuse to pay america's bills on time social security checks and veteran's benefits will be delayed. >> we are not going to do it without putting in place a spending reform. these cuts promise to transpire but never do are not going to do the job any more. >> senate republican leader mitch mcconnell wanted to say the president needs to get serious about it. you can see the battle lines clearly drawn in washington. >> also pointing out in 2006 president obama then senator voted against raising the ceiling. >> they discussed his time spent in prison whether he feared for his life and what the first moments were like for him. >> i came in the prison around 3 in the morning. initially there's some pressure put on me. they tried to export money from the family, but the american consulate was contacted and they moved me out of the general population and put me into like a single place by myself. >> how did they try to export m
round stops. it's going to stop for the united states. you cannot have trillion-dollar deficits every year. >> the pain is going to be unbelievable. >> if liberalism does not work and it doesn't, it will be rejected. and the conservatives will find their leader. they always do. >> bill: i'm not disagreeing that will happen down the road but i don't want a catastrophe before it happens. and i think that's where we are headed. >> i agree with you on that. >> would've. charles thank you. in a moment al qaeda tries to take over a country in africa and the french are trying to stop it will the u.s.a. join the fight. factor tip of the day, do not fool around with mother nature. we're coming right back. >> bill: back of the book segment tonight. the african country mali a is back water. poor perfect place for al qaeda to take root. now it seems that islamic militants may seize control of mali. standing in the way the french who controlled the country at one time. french armed forces are fighting al qaeda but the u.s.a. is standing back. >> there is no consideration of putting american boots
for the legislative battle. it will be over debt, deficit, gun control immigration reform leading the organization will be jim macina who will take over the cash of 5.3 million and use it for discreet coalition of the policy battles. it is the most sophisticated in modern times in the use of multi targeting data. vice president giend who hazel lewded to a presidential run of his own spoke about a grass-roots approach in his announcement yesterday as conference as mayor. >> we are going to take this fight to the halls of congress. we are going to take it beyond that. we are going to go to the country making our case and let the voices, the voice of american people to be heard. >> it will be separate from the democratic national committee. the white house dmc chair debbie watson schultz. describes her as an obama outsider who never enjoyed a close relationship with the president. >> isn't that the question you would love to be asked what are you going to do with the leftover 5.3 million? >> i don't anticipate that in my life. >> a too bad hopefully you share the wealth. >> dumped several inches of s
. >> it is nice but nothing compared to the 45.$8 million deficit this city is running. when they filed for bankruptcy they had wanted to $50,000 in the citibank account. john: the politician said we did not see it coming. they owed 46 million with panetta thousand of the bank? >> they're required to put 1.8 million dollars per month into koppers. john: they tried to raise money through fees like expensive parking tickets. >> i paid $500. >> but he was going 90 in the school's own. john: with that does not cover the pension obligations. >> not sandy know, vallejo, a compton, a stockton or any of their city. they are failing. john: i hear there is more civil society? volunteers working in the animal shelter, park maintenance, a neighborhood watch is starting to blossom? >> bay plant their city back. they take it themselves. so the private solution is always better. john: that is where you go when the government spends of the many. next we take this problem and see what it does to the whole state. whole statthe boys use capital one venture miles for their annual football trip. ... yo tua
in 40 years and that was a good thing. the budget hasn't been balanced in multiyears and the deficit is over a trillion dollars . every man, woman and child. i had my fifth grandchild and that baby was born with $50,000 worth of debt if we were to pay it off today. every man and woman and child has that worth of debt. that is uncon69able and we have to stop kicking the can down the road and we have to solve the problem and do whatever it takes to get us back on the fiscal path again. >> i want to talk about it now you come back and see a different thing. what is the biggest difference you are seeing coming back the second time? >> we passed a lot more rules on ourselves. we reduced our budget and exact opposite is happening to our government. it is gone crazy with regulation and restriction, but the part that is most alarmming is the amount of money that we are print one day will explode. we can't continue to print money. we have fancy names for it. it is quantitative easing and it is really printing money. wrim bay way has a trillion dollar note and you buy a loaf of bread everybody
-or-no. >> no risk. >> the debt ceiling was raised in august the political fight in the spot lighted on the deficit and debt problems less s&p to downgrade the u.s. credit rating for the first time in history. >> geithner steered the major economic moves in the first term and now he is stepping down. president obama's pick to replace him is jack lew, who has established a close relationship with the president. lew is not is chummy with republicans on the hill after the debt ceiling negotiation back in 2011. for that reason and others, his confirmation hearing could be bumpy. if confirmed, he will be dealing with the top issue in this second term, how to get the economy moving and addressing the country's long term fiscal problems. >> this is a president that is forced to grapple with the budget woes, with the economy that cannot get over the hump. it will consume most of his time, i believe, in the second term. >> what he cannot do going into the term is go from economic crisis to economic crisis. that is not leadership. he has to figure out how to address this in ay way. our health care reform can
with these incredible burdens of debt and deficit unless we reform these important programs. >> small talk over an all american inaugural luncheon of lobster, bison and arm pie showed the two parties are capable of expressing goodwill in hopes of bipartisanship. >> i think there are areas that we have in common and can work toward solutions together. >>> after day of celebration dan pheiffer telling "washington post" republicans may not be up to the task. the cbs news political director said quote go for the throat. why obama must declare war about the republican party. >> especially that coming from a news otherzation. >> we are getting a lot of reaction coming in. folks are criticizing president obama for putting social issues before the economy. the economy some argue is not one of his priorities. >> if you look back in 2008 the median household income 52,546 dollars. three years into president obama's presidency the average for 2011 it dropped more than 2,000 dollars to 50,054. when you look at the numbers do you think the president should be more focused on the economy. john meachum is talking ab
and deficit under control. i talked to one key republican lawmaker who says there are three events coming that will coalesce. debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradi
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